On this site I would like to introduce you to Panama and an incredible investment opportunity in a not too well known beach area called Playa el Rompio:a new condo community of luxurious townhouses.

Please go to Condos El Rompio email: maxben@vif.com

Panama is paradise for retirees

Cheap real estate, a low cost of living, fabulous scenery and relaxed pace should put this gem at the top of the list for North Americans on a fixed income.

Panama is one of the best places in the world for retirees today, combining a low cost of living, near-perfect weather and one of the world's best discount programs for retirees, with up to 50% off everything from public transport to movies, mortgage rates, doctor's visits, electricity, restaurants and airfares.

When you compare Panama with its neighbors, you'll see that it has more amenities than traditional retirement spots such as Mexico and Costa Rica, with lower costs and crime rates. In Panama, you'll encounter less red tape and less interference from local authorities.

Cost of living
Panama has one of the lowest costs of living in all Central and South America: A North Americans-style home can be built for about $40 per square foot; the land could cost between $1 to $6 a square foot, depending how far you are from the beach or from the capital; unskilled labor costs $12.40 per day; a full-time live-in maid costs $120 to $160 a month; a beer at a bar costs 50 cents; a cup of coffee, 30 cents; a haircut and shave can cost as little as $2; an afternoon at a beauty salon is $8; electricity is about 10 cents per kilowatt-hour; water bills are $54 per year; telephone service costs roughly $30 a month; Internet access is $14 a month; wireless is available for a bit more; cellular-telephone service costs about $30 a month plus a per-minute charge of around 22 cents; and cable TV will cost you about $30 a month.

The U.S. dollar is legal tender in Panama, which insulates its economy from global shocks. During the Asian monetary crisis of 1998, Panama became one of the healthiest economies in Latin America.

Panama's pensionado program
Once you become a resident "pensioner" of Panama under the Tourist Pensionado Visa, you are eligible for the most appealing program of benefits for retirees available anywhere in the world right now.

Now, you may be thinking: "Pensioner? Retiree? That leaves me out."

Not necessarily. The rules for becoming a "pensioner" and qualifying for this visa program in Panama are probably not what you'd expect.

In fact, anyone over the age of 18 may apply and can qualify as a pensionado in Panama. All you need is a guaranteed pension income of $500 per month ($700 for a couple). It must be a pension from a government agency (e.g. Social Security, disability, armed forces, etc.) or a defined-benefit pension from a private company. Sorry, but an immediate, fixed annuity doesn't qualify.

As a qualified pensioner in Panama, you would be entitled to:

* 50% off entertainment anywhere in the country (movies, theaters, concerts, sporting events, etc.)

* 30% off bus, boat, and train fares

* 25% off airline tickets

* 50% off hotel stays Monday through Thursday, 30% off Friday through Sunday

* 25% off restaurant meals

* 15% off at fast-food restaurants

* 15% off hospital bills (if no insurance applies)

* 10% off prescription medicines

* 20% off doctors' consultations

* 15% off dental and eye exams

* 20% off professional and technical services

* 50% off closing costs for home loans and more

Crossroads of the North Americas
Panama is also perhaps the most accessible retirement haven for North Americans.

There is a frequent nonstop service to Panama City's Tocumen International Airport. It's a 2 1/2 hour flight from Miami on American Airlines and COPA, Panama's national airline, which also flies from Los Angeles and Orlando, Fla. Continental flies from Houston, and Delta flies from Atlanta. Aeroperlas and Mapiex Aero are two domestic carriers that offer daily flights throughout Panama.
From Canada, you could find some charters in our winter time.

As a foreign resident, if you buy or build a new house, you won't pay property taxes for 15 years, nor will you pay taxes on foreign-earned income. Personal income tax is based on a sliding scale from a minimum of 4% to a maximum of 30%. A Value Added Tax of 5% to 10% is charged on most products and services. Transfer taxes on real estate are paid by the seller, and there is no inheritance tax or gift tax.
Mountains, beaches or the big city?

One of the unique places to buy real estate in Panama is Jardines Del Rompio, at Playa El Rompio, near the cities of Chitré, Los Santos, Santa-Ana.

Chitré : Chitré is on the border with Los Santos. It is located on the Azuero Pensinsula, place that shares with Los Santos and part of Veraguas.The cost of living is cheapper, the town of Chitré. Population 102,465 inhabitants (2000 census) You will find everything you need to have a nice retired life. And If you want to go to the capital, it will cost you $15 return by bus. You can enjoy the busy city of Panama , (a little New York) for few days, using taxis for minimal charge.

You will come back soon to your quiet place in Playa El Rompio at Santa-Ana.

Some places to visit:

Panama City: Panama City is probably the least expensive place in the world to live in a First World city. Here you'll find world-class restaurants, every imaginable luxury, hundreds of multinational businesses . . . all at about half the price you'd pay in Miami, or any other U.S. city for that matter. .

Boquete :Boquete sits in Panama's mountainous Chiriqui region at an elevation of about 3,500 feet. It's quiet, unspoiled, uncrowded. Mountains, rivers, waterfalls. This is coffee country, and in harvest season the Indians come down from the hills to find work. Penonome: Penonome is in the area of El Vallee .It is home to a few wonderful spas located in the mountains.